, NAIROBI, Kenya Feb 18 – The East African Community (EAC) on Tuesday launched a new scorecard that will assess progress toward developing the EAC Common Market.
The scorecard will measure partner states’ compliance to the free movement of capital, services and goods.
The scorecard was developed by the World Bank Group at the request of the EAC Secretariat over a period of 18 months under the supervision of the EAC Secretariat and partner states.
The areas of capital, services and goods were selected for scoping as they are foundational for the operation of the common market.
The EAC Secretary General Richard Sezibera said that the scorecard is well aligned with the EAC’s implementation priorities and will foster peer learning and facilitate the adoption of best practice in the region.
“This will contribute to strengthen the regional market, grow the private sector and deliver benefits to consumers,” Sezibera stated.
East & Southern Africa Investment Climate Head, Catherine Masinde, said the EAC Scorecard provides transparent, rigorous, unbiased and client-led data on the key implementation gaps to the integration of the region’s economies.
Masinde said it also highlights possible reform areas to improve compliance to the Common Market Protocol.
The restrictions identified by the scorecard limit cross-border trade and foreign direct investment into the East African region.
The scorecard notably identifies at least 63 non-conforming measures in the trade of services and 51 non-tariff barriers affecting trade in goods while in the area of capital.
Only two of the 20 operations covered by the Common Market Protocol are free of restrictions in all of the EAC partner states.